In its recent judgment in Re Jabiru , the Supreme Court of New South Wales applied principles governing the appointment of Special Purpose Liquidators (SPL) in rejecting the Plaintiffs’ application...
In a recent Supreme Court of Victoria decision in which we acted for the successful liquidators, the Court made various orders to enable the company to complete an ultra-efficient, streamlined...
The recent Federal Court decision in Diversa Pty Ltd v Taiping Trustees Limited has highlighted some important risks faced by secured parties who don’t pay attention to the details when perfecting...
The Full Court of the High Court (Keane and Gleeson JJ) has today granted Daniel Bryant and Craig Crosbie of PwC, in their capacity as the Liquidators of the Gunns Group, special leave to appeal...
In his recent decision in Antqip Hire, Brereton JA of the Supreme Court of New South Wales concluded that section 588FL of the Corporations Act 2001 (Cth) does not operate to result in the vesting...
In a resounding judgment delivered last week, the Full Federal Court has confirmed that a statutory set-off under section 533C is not available to a defendant in unfair preference proceedings.
The Victorian Court of Appeal’s decision in The Australian Sawmilling Co Pty Ltd (in liq) v Environment Protection Authority [2021] VSCA 294 casts significant doubt on liquidators’ capacity to rely...
A sensitivity analysis can be a useful tool for assessing the likelihood of meeting earnings forecasts. But are public companies bound to disclose that analysis to the market? The Full Court of the...
In a substantial recent decision arising from the Arrium liquidation , the Supreme Court of New South Wales considered the materiality of significant future liabilities in assessing the company’s...
A hotly anticipated decision in the ongoing saga of the Babcock & Brown liquidation was handed down last week, resulting in another win for the liquidator (represented by Johnson Winter & Slattery)...
Today, the Federal Court dismissed a novel application brought by a disgruntled shareholder and minor creditor seeking to have a Special Purpose Liquidator appointed to investigate the general...
On 10 May and 24 June 2021, the Full Court of the Federal Court delivered unanimous judgments in Badenoch Integrated Logging Pty Ltd v Bryant, in which the Full Court held that the peak...
In a significant decision delivered on 10 May 2021, in which JWS acts for the plaintiff liquidators of the Gunns Group, the Full Federal Court in Badenoch v Bryant has declined to follow some six...
The Treasurer has announced major proposed reforms to Australia’s insolvency framework aimed at facilitating the restructuring of small to medium businesses (MSMEs) and streamlining their...
The operation of temporary COVID-19 relief measures for businesses in the hope of aiding distressed companies and preventing further economic breakdown will be extended until 31 December 2020.
In its recent judgment involving the PAS Group of companies , the Federal Court held that rent payable by the PAS Group during an extension of the period in which an administrator had been excused...
The Supreme Court of New South Wales has helpfully given guidance to the liquidators of the RCR Tomlinson Group on a number of unsettled questions that have challenged insolvency practitioners...
This week, the Federal Court published judgments in three unfair preference claims brought by the liquidators of the Gunns Group. We acted for the liquidators in each proceeding.
Times are changing rapidly with the current flow of Coronavirus measures introduced to support businesses in debt and distress.
The Coronavirus Response Bill provides, amongst other legislative amendments, for temporary changes of 6 months’ duration to Australian insolvency and corporations laws to assist in managing the...
This decision is an important reminder to liquidators to exercise their independent and professional judgment.
In its recent decision in the ongoing Solar Shop litigation, the Full Federal Court established two key principles which will have significant ongoing implications for the conduct of unfair...
Australia’s insolvency laws have been amended, yet again.
A recent Federal Court decision serves as a helpful reminder to liquidators about the potential availability of warrants under section 530C of the Corporations Act 2001 (Cth).
In a decision of the Federal Court handed down on 18 October 2019 in Masters v Lombe (Liquidator); In the Matter of Babcock & Brown Limited (In Liquidation) [2019] FCA 1720, Foster J held that...